Trading mixed after pullback overnight

July 8, 2020

By IFCMarkets

Top daily news

Global markets are mixed today after US equities snapped a five-day winning streak overnight. Investors are cautious in light of surging coronavirus cases globally while White House formally notified the United Nations of its withdrawal from the World Health Organization.

Forex news

Currency Pair Change
EUR USD -0.48%
GBP USD +1.1%
USD JPY -0.06%
The Dollar weakening has resumed today . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.2% Tuesday after Labor Department report job openings rose to 5.4 million in April from 5 million in the prior month. EUR/USD reversed its climbing as German industrial production rebounded a slower than forecast 7.5% in May. GBP/USD continued climbing with both pairs higher currently. USD/JPY reversed its sliding yesterday and AUD/USD reversed its climbing with both yen and Australian dollar higher against the greenback currently.

Stock Market news

Indices Change
Dow Jones Index -0.91%
GB 100 Index +0.35%
Nikkei Index -0.86%
Futures on three main US stock indexes are rising currently. Stock indexes in US pulled back Tuesday as San Francisco Fed President Daly said the US unemployment rate underestimates the economic damage of the virus: the three main US stock indexes posted returns ranging from -0.9% to -1.5%. European stock indexes are edging lower currently after a pullback on Tuesday as the European Commission lowered its euro-zone economic forecast by a percentage point, now seeing a contraction of 8.7% this year. Asian indexes are mostly extending gains today except for Nikkei and Australia’s All Ordinaries ASX 200 Index .

Commodity Market news

Commodities Change
WTI Crude -0.15%
Brent Crude Oil +0.19%
Brent is extending losses today. Oil prices ended lower on Tuesday. The American Petroleum Institute reported late Tuesday US crude supplies rose by 2 million barrels last week. The US oil benchmark West Texas Intermediate (WTI) for August slipped 0.02% Tuesday. September Brent crude lost 0.05% to $43.08 a barrel.

Gold Market News

Metals Change
Gold -0.08%
Gold prices are pulling back today. August gold gained 0.9% to $1809.90 an ounce on Tuesday.

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